THE Independent Electricity Market Operator of the Philippines (IEMOP) had imposed the secondary price cap last week but clarified that the spike in spot market prices had nothing to do with the shutdown of the Malampaya gas facility starting Saturday. According to IEMOP Chief Operating Officer Robinson Descanzo, the P6.245…
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Published July 12, 2021, 2:00 PM
The operator of the Wholesale Electricity Spot Market (WESM) is temporarily enforcing ‘relaxed rules’ – for at least three months, on the prudential requirement (PR) as well as dispatch conformance of trading participants in the Mindanao spot market.
According to Robinson Descanzo, chief operating officer of the Independent Electricity Market Operator of the Philippines (IEMOP), “for the initial operation of WESM (in Mindanao), we relaxed the compliance on dispatch and prudential guarantee.”
The commercially binding price settlements for WESM-Mindanao will start October 26 this year, hence, the easing of the rules are anticipated to stay within July to September.
The Independent Electricity Market Operator of the Philippines (IEMOP), which is the entity operating the Wholesale Electricity Spot Market (WESM), has been seeing uptrend in the country’s electricity demand. According to Robinson Descanzo, chief operating officer of IEMOP, the rise in power usa